Breaking News in association with Money AM
Tuesday, 10th November 2009
5:02pm
END-OF-DAY REPORT: Headline shares closed a dull session flat, banking shares in focus following contrasting numbers from Barclays and HSBC, and progress stifled by weakness among the mining fraternity.
At the close of play, the FTSE100 was down just 4.63 points at 5,230.55 with the FTSE250 off 81.59 points at 9,120.96 and the FTSE Smallcaps 2.86 points higher at 2,787.81.
NEW YORK
US stocks were slightly lower in late morning trade as investors tracked the effects of a stronger dollar.
Approaching the close...
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3:32pm
HSBC said today profitability for the first nine months of 2009 was stronger than expectations at the start of the year, as positive trends experienced in the first half continued into the third quarter.
As a result, year to date pre-tax profit was ahead of the comparable period in 2008 on an underlying basis, excluding movements in fair value on our own debt related to credit spreads. On the same basis, pre-tax profit for the third quarter of 2009 was significantly ahead of Q3 2008.
Building on its exceptional first-half results, Global...
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12:47pm
MIDDAY REPORT: Headline shares were fractionally higher in midday trade, banking shares in focus following contrasting numbers from Barclays and HSBC, progress hindered by weakness among the mining fraternity.
At high noon, the FTSE100 was up just 6.83 points at 5,242.01 with the FTSE250 off 37.12 points at 9,165.43 and the FTSE Smallcaps 15.11 points higher at 2,800.06.
NEW YORK
US stock futures were slightly lower as investors pause for breath after six consecutive winning sessions.
Dow Jones Industrial Average futures fell...
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11:47am
Insurers were under scrutiny with Amlin started with a buy recommendation at UBS and Aviva upgraded to buy from hold at SocGen, target price raised to 450p from 400p.
Beazley cut to hold from buy at Collins Stewart.
BRIT started with neutral rating at UBS.
Burberry upgraded to hold from sell at SocGen.
Catlin started with buy recommendation at UBS.
Chemring started at Finncap with buy rating and 3240p price target.
Close Bros upgraded to buy from hold at Canaccord.
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9:17am
MORNING REPORT: Headline shares were modestly higher in early deals, banking shares in focus following contrasting numbers from Barclays and HSBC, and with retailers benefiting from news of climbing high street sales.
At 8:30am, the FTSE100 was up 14.08 points at 5,249.26 with the FTSE250 ahead 35.41 points at 9,237.96 and the FTSE Smallcaps 14.52 points higher at 2,799.47.
US & ASIA
In the US last night, the Dow was up 204 points at 10,227, while the S&P500 added 24 points at 1,093 and the Nasdaq...
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8:47am
Barclays reported profit before tax for the nine months to end-September of £4.542bn.
Excluding movement on own credit, gains on acquisitions and disposals and gains on debt buy-backs, profit before tax increased 116% from £2.046bn to £4.413bn.
Income for the nine months was up 26% year on year.
Annualised loan loss rate was 136 basis points on a constant balance sheet and foreign exchange basis, compared to 144 basis points for the first half and impairment for the full year is currently expected to be around the bottom end of the...
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